• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Hackers Crack Forgotten Bitcoin Wallet - Reflections on Decrypting Bitcoin Wallet

user avatar

by Giorgi Kostiuk

a year ago


Hackers Successfully Access Bitcoin Wallet

A remarkable event unfolded as hackers managed to recover a forgotten password of a digital wallet containing a substantial amount of Bitcoin (BTC), sparking widespread interest.

Unveiling the Wallet's Restoration

Unveiled details suggest that back in 2013, a cryptocurrency investor operating under the alias 'Michael' securely transferred his BTC to a password-protected wallet. Unfortunately, an issue arose, barring Michael from accessing the wallet and the 43.6 BTC, valued at $5,300 during that period.

Esteemed cryptography experts notified Michael that retrieving the lost password and consequently, his crypto assets, was improbable. Despite this, two hackers recognized as Grand and Bruno volunteered to assist.

The Path to Access

Dedicatedly, the duo diligently reverse-engineered the specific version of the RoboForm password software integrated into Michael's digital wallet. Surprisingly, they identified that the supposedly random passwords generated by this tool were not truly random but were instead reliant on the computer's date and time.

Grand and Bruno concurred that discerning the password creation date, character count, and the arrangement of uppercase and lowercase letters, digits, and special characters would expedite the decryption process.

Given Michael's memory lapse regarding the password creation timeline, it became a challenging endeavor. The sole recall was the initial Bitcoin transfer to the wallet on April 14, 2013, alongside the knowledge that two other passwords generated in 2013 lacked special characters.

By November, Grand and Bruno triumphantly cracked the password, devoid of special characters, originating on May 15, 2013, at 16:10:40 GMT.

Reflecting on their triumph, Grand expressed,

We were fortunate as our variables and time frame aligned accurately. Discrepancies in any parameter could have necessitated prolonged trial and error. Predetermining all possible combinations would have significantly extended the decryption process.

Upon reclaiming control over his digital wallet, Bitcoin was evaluated at $38,000. Michael exhibited patience, waiting for the price to escalate to $62,000 before liquidating a portion of his holdings.

Presently, his BTC stash is approximated to exceed $2 million at a value of $68,300, equivalent to 30 BTC.

The original post surfaced on COINTURK NEWS: Hackers Recover Forgotten Bitcoin Wallet

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Metaplanet's Strategy of Utilizing Bitcoin for Acquisitions

chest

Metaplanet is accumulating Bitcoin for strategic acquisitions, including plans for a potential digital bank in Japan.

user avatarGiorgi Kostiuk

KuCoin's Approach to Compliance Under BC Wong: Challenges and Prospects

chest

BC Wong, CEO of KuCoin, discussed the importance of compliance and the future of stablecoins amidst criticism from ZachXBT.

user avatarGiorgi Kostiuk

XRP: Key Indicators Amid Potential Upsurge

chest

XRP is at a critical stage with a symmetrical triangle signaling potential price movement. Analysis of the current situation by Steph Is Crypto.

user avatarGiorgi Kostiuk

OT MANAGEMENT Introduces a Retail Investor-Centric Model

chest

OT MANAGEMENT, LLC develops a strategy focused on retail investors under the leadership of Daniel John Impens.

user avatarGiorgi Kostiuk

Pi Network: Prospects Amid Overall Cryptocurrency Market Growth

chest

Despite the overall recovery of the cryptocurrency market, Pi Network continues to face challenges. An overview of the technical situation and possible scenarios.

user avatarGiorgi Kostiuk

Bit Digital: A Complete Shift from Bitcoin to Ethereum

chest

Bit Digital has sold all its Bitcoin and invested $200 million into Ethereum.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.